Saudi Aramco's Crude Output in 2017 Fell From Annual Record
- Oil production averaged 10.2 million barrels a day last year
- Aramco gas production reached 12.4 billion scf/d in 2017
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Saudi Arabian Oil Co., the world’s largest crude exporter, said its production last year fell from the annual record it reached in 2016 as it led OPEC and other major producers in curbing output to counter a global oversupply.
The kingdom’s oil production averaged 10.2 million barrels a day in 2017, down from 10.5 million barrels in 2016, Saudi Aramco said in its annual review published Friday. Crude oil reserves stood at 256.74 billion barrels and condensates were 4.1 billion. Natural gas production rose to 12.4 billion standard cubic feet a day, up from 12.03 billion standard cubic feet in 2016.